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us a little later. and a new year brings new hope for the formerly golden state of california, the chairman of the state's republican party, yes, there is such a thing, as a republican party in california, i think. join us. remember, we want to hear from you please, send your e-mails right now varney@foxbusiness.com, we'll read some of them on the air as we go through this new year's eve. 7 early movers, where are we to start with. amazon, that stock is up 41% this year. the company says one of its directors is resigning and it's down 19 cents, that's it. 2.44 on amazon. electronics firm brady corporation acquired precision dynamics from the private equity owner, 300 million in cash, little change. private equity to buy financial advisory firm dustin phelps, 665 million bucks and phelps is not surprisingly up a lot. and netflix chief hastings gets his pay doubled, but half is died to the company's stock performance, netflix up 28% this year up a little more right now. fda approval made by, for a bill. made by bristol-myers and pfizer to prevents strokes. here is a look at shar
melissa: i'm melissa francis and here's what's "money" tonight. california's got its first ever fracking regulations but some say they go too far and could choke off access up to $15 billion barrels of oil. we'll drill down on the answers. >>> plus, more talk and no walk in washington. shocker there. both side insist we need to stop spending. not that they're cutting a single penny from a single government program. fox news's bret baier with the real cost of spending. >>> we all love a good hamburger, right? but is that pesky wrapper keep getting in your way? one fast-food chain may have solved the problem for good. they're making the wrapper edible. you have to see this one to believe it, trust me. even when they say it's not it is always about money. melissa: first, let's take a look at the day's market headlines. fiscal cliff talks may be a mess but not ruining the party for investors. u.s. third quarter gdp was revised up to 3.1%. not bad. november existing home seams -- sales hit nice not seen. wall street shares of the nyse euronext skyrocketed 34%. the company is being ac
to take union pensions off of the backs of taxpayers has failed in california. government unions declaring a major victory and killing off a reform victory that replaced with 401 k style investment plans. it is a defeat for taxpayers how so? >> the pension under fundeds are massive. we'll see hikes in taxs and sales tax increases and more worse is bankruptcies. we see that in stockton and san bernardino. we go to court and bankruptcy law versus pension law. you can see current services cut. tax hikes and other lousy outcomes if we don't see reforms. >> you admit we are having problems paying out the pensions. they are bankrupting. >> the pblem is that los angeles is not the place. and it is a ballot initiative. you have front runners that become mayor . they will not support it it was a nonstarter and never going to work in thetave . you have a better chance of succeeding. >> at least it was a plan . it is no law that said you cannot change 401 k's. that is future and new hires and for their plans. you don't have ill defed benefits and by the way the private sector doesn't get. there is a
really do. california tax pain could be arizona's gain. we talked to a mayor who's trying to lure businesses away from the formerly golden state. a reporter with the sporting news doesn't like tattoos. and says most quarterbacks do not have them. now, he's being labeled racist because of those remarks. we'll talk to him next hour. yeah, he's here. remember, we want to hear from you, send you e-mails varney@foxbusiness.com and please comment on tattoos. i personally hate them. now, seven early movers-- somebody is olling their eyes off camera. and pep boys post a loss on weak sales and down it goes. the drug maker jereon, says it has stopped developing its treatment for brain cancers and cut the work force by 40%, there it goes. and dividends for the next three quarters and all of them early, the stock is now up. and profit rises at the home builder, toll brothers and the company said new orders rose sharply. up goes the stock. and tellabs, another special cash dividend. up it goes. the medical supply company baxter is going to buy sweden's gambro he for about 4 billion dollars, d
, for an obama bailout. so, who is next? california, illinois, good question. raise tax rates on the rich or no deal. yeah, the line has been drawn again. president obama says america is poised to take off, but only if the republicans agree to tax the rich directly. he will only accept higher tax rates. how will speaker boehner respond to that? he speaks within the hour. and how about this, top anchors at a news network visit the white house for a cozy chat with the president. tell us, mr. president, how can we sell your tax the rich policy? citigroup, 11,000 jobs gone. "varney & company" about to begin. having you shipy gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ me announcer ] break from e holiday stress fedex office. >> we'll begin with sad news. dame elizabeth mother of news corporation chairman and chief executive rupert murdoch died at age 103. news point company fox. now sad news. and he's raised tax rates and he was elected based on his tax the rich pol
the price is still the highest ever for this time in december. california, a national carbon tax could be on the the way, they've got one already, how is that working out? and china may be the number one economy soon. really? "varney & company" about to begin. >> right off the top, breaking news for you now. fox business learned that a group claimed to be aligned with terrorism is threatening to launch a massive attack against u.s. bank websites and made that threat in the fall and this is a new threat set to start this week, we hear. and a list of banks targeted includes j.p. morgan chase, bank of america, u.s. bancorp, pnc financial services and suntrust banks. more details when we've got them. the power and might of unions on display today and being tested. you will see huge protests at the state capital building in michigan where right to work legislation will be signed today. that means workers will be able to choose if they want to join the union. they will no longer be compelled to pay dues. here is the president speaking at a daimler factory in michigan yesterday. >> we do eve
've been saying since election day on "varney & company," a carbon tax may be coming. california already has one and fueled by a new report on the melting polar ice cap, it could be just a matter much time before the left pushes a carbon tax through. would it stop rising temperatures? would it? joining the company is bjorn lump berg, and one of the foremost authorities on environmental. and did you get chucked out of denmark. >> i mean, in the sense of the new government cut off my funding. stuart: because of your position on global warming and environmentalism. >> yes we don't want to it hear good advice. stuart: what's your advice on the carbon tax, if we got one, would it help reduce co 2 emissions? >> well, any climate economist would say a low carbon tax makes sense, but the problem is, it will only cut a very tiny amount and of course, what you really have to remember, you're never going to get china or india on board. so essentially, it's going to have a very, very small effect. it's not the solution to climate change. >> would you say that the co 2 emissions are causing temperatu
not get them in me. more than den ships loaded incargo are sitting doc in california and have been for the past week. both sides reportedly agreed federal mediation in the strike but close to a llion doars a day is stl beg lost. we have the president of the harbor trucking association and 32 of his 35truck drivers are out of work as a result othe strike. he has aaso been unable to deliver gos to businesses inhis area. fred, do youhink the federal meddars will be able to resolve this strike? >> our fingers are crossed, melissa. this is imrtant. we need to get this thing over quickly. melissa: fred, what has it meant you personally? >>t is hard to account for what the cost of this is. it probably won't accounted for until after the strike over whenll the rifications hav dom noted down buttit is always devastating to me personally. and it is worrisome for me about my employees a my drivers. melissa: we look at numbers that are involved here an everyone has their estimate and they're arguing or whose esmates are right but what we see is 1.2 million jobs are supported by the ports. 40
. they support proposition 30 in california to raise taxes one upper income californians and to raise the sales tax because hispanics remain at the lower level of the economic ladder and they use government welfare programs at a very high rate.t . lou: i welcome this discussion. now being by the republicans one reforming our immigration laws. but i hope there is not a rush to judgment somehow loses across a vast sea of facts and realities that have been avoided by both political parties. the american people really need to understand what is happening the hispanic community needs to understand what is happening.de the idea that this countryhere should be selecting those of prince and the united states based on their skills or bgo talents, that has to be a tough sell when theug land bridge istt downe south. >> that is white amnesty is very risky because it means that stopping the flow of illegal aliens from that land bridge will be even more difficult. lou: if there is an amnesty, to be the the third in the last 26 years and it will be something to watch.wa >> and we will have it in full, i guar
, everyone, a leading internet gun seller suspends all sales. the california teachers pension fund thinks about getting out of gun stops. the bush master gun maker has been put up for sale. and friday marked a sea change. richard trumka has taxes and spending. a dead ringer for big labor's plans delivered to the white house. facebook makes a pr push, mark zuckerberg, a half billion to charity and you are getting out of general motors and you lost. wednesday, december 19th, "varney & company" about to begin. >> good morning, everyone, general motors, it's about you the taxpayer. you are getting out. and they will sell 300 shares by a pre-arranged written trading agreement. don't know the price. plus, gm will buy 200 million shares from the treasury, that means is taxpayer loss is being locked in. how much? we're not sure. taxpayers, by the way, put in 49 1/2 billion into general motors. the bid-ask shows gm up today. now, the gun industry, that's feeling the impact of last week's shooting in connecticut. cheaper than dirt one of the biggest on-line retailer has stopped selling firearms an
, nicole, more proof that the california is the formerly golden state. and tens of thousands leaving and is mike reagan ready to join them in the mass exodus. make it with them. just look at this. there's still room in my house for you in new jersey, okay? >> see you on the 7th. >> stocks will be higher when trading begins at 12:15 eastern time. right around noon time today we're going to get the official word from the federal reserve. is ben going to print a ton more money or not. odds are the answer is yes. he's going to keep on printing and if president obama keeps spending and he will, it looks like a nice stock market rally on our hands and by the way, the dow is already around 13250 headed north by the looks of it. in the early going the dow jones industrials have opened higher. a big name you know, costco, better than expected profit. let's kick it off. where is the stock? >> a winner is a winner, up .8% and it's a winner because how with numbers beat the street. a couple of things when you delve into the wholesale retailer and a 30% rise in quarterly profit and this did beat
for having me. stuart: new at ten, it's on its way, a california highway patrol officer paid nearly a half million dollars in total compensation and he's still working. we'll have more of the outrageous numbers from the public employee from the golden state the top of the hour. as we all the say, time is money and 30 seconds of what we're watching. would grover norquist approve the higher tax rate that speaker boehner okayed. they will he' vote on them this week and we'll get answers straight from grover on the program today. the dangers of smoking well-known to kids, how about chewing tobacco and dip? bigger increase of those kids using products and ask because of the 440 million dollar ad campaign? i'll tell you the story of a man who has flown 1 million miles this year commercial, all of this on united. e-mail us please varney@foxbusiness.com. 7 early movers this tuesday morning. boeing expects to buy back as much as 2 billion dollars worth of its own stock next year, raising dividend and not moving up the payment so shareholders may get the money under higher tax rates and the stock do
their taxes raised. we need to take the example from california. california did it, people voted for. melissa: goodness, california will go bankrupt and they're falling off in the ocean. i would never want to imitate california. >> california. california is doing much better. melissa: you're a great sport. thanks for coming on. we appreciate your ti. >> all right. melissa: many so. country's mow powerful democrats unveiled a new tax plan aiming not so much at the rich but aimed at favorite vices. would the pain be worth the gain? >>> the government extends an olive branch to the protesters and get firebombed in return. will it swallow the morsi government and middle east security along with it? more "money" cong up. ♪ . there is no mass-produced human. every human being is unique. and there is one store that recognizes it. the sleep nuer store. the only place in the world you'll find the extraordinarily comfortable sleep number experience. an exclusive collection of innovations that totally individualize your sleep. perfectly comfortable pillows that adjust to your size and shape. temperatu
, will not have their taxes raised. we need to take the example from california. california did it, people voted for. melissa: goodness, california will go bankrupt and they're falling off in the ocean. i would never want to imitate california. >> california. california is doing much better. melissa: you're a great sport. thanks for coming on. we appreciate your time. >> all right. melissa: many so. country's mow powerful democrats unveiled a new tax plan aiming not so much at the rich but aimed at favorite vices. would the pain be worth the gain? >>> the government extends an olive branch to the protesters and get firebombed in return. will it swallow the morsi government and middle east security along with it? more "money" coming up. ♪ . i always wait until the last minute. can i still ship a gift in time r christmas? yeah, sure you can. great. where's your gift? uh... hew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. ♪. melissa: for a moment forget what you're hearing to avoid the fiscal cliff, balance the budget and decreas
, california. how packed is the mall? >> i have to tell you, either a lot of people pushed it to the wire this year or they are just here for the great sales. either way, retailers are counting on procrastinators. here at the galleria, i am told they are seeing a record number of shoppers. there is no lack of shoppers here today on christmas eve. discounts are so great they just cannot stay away. crowds over the weekend have been hitting the walls all across california and the west coast. stores are staying open later. ey are extending their hours. they are slashing prices. it has been a gloomy holiday shopping season. we had sandy and the school shooting. it has kind of been a joy lift shopping season. now, this looming fiscal cliff a week away. they need to pull out the big guns and do everything they poibly can to lure shoppers into their stores. we are seeing prices slashed 50%. here at the galleria, they may have seen record number of shoppers. shopper track which takes a look at traffic, they have actually changed their forecast from 3.3 down to 2.5%. we will have to wait and see if
for california which bet big on wind energy. republican strategist is in california. we talk to him coming next. [ male announcer ] you are a business pro. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male announcer ] yes, you could business pro. yes, you could. go national. go like a pro. >> announcer: you never know when, but thieves can steal your identity and turn your life upside down. >> hi. >> hi. you know, i can save you 15% today if you open up a charge card account with us. >> you just read my mind. >> announcer: just one little piece of informati and they can open bogus accounts, stealing your credit, your money and ruining your reputation. that's why you need lifelock to relentlessly protect what matters most... [beeping...] helping stop crooks before your identity is attacked. and now you can have the most comprehensive identity theft protection available t
sanchez. she is from the beautiful state of california. congresswoman, good to see you. are you on board with this? >> well, i will have to see the moving pieces before i make a decision on things. certainly, i always thought that if we could, we would put in corporate tax rates, not individual rates. we will see. we will see if the president and speaker boehner can come up with a deal. and, secondly, if speaker boehner has enough votes to have enough people vote for it. dagen: we have heard from senator harry reid once again. if the democrats do not get the tax increase on wealthy americans that he is willing to go over the cliff, the end of the year. we are awfully close. >> remember that congress always has the ability to set a new set of tax rates. even if we went through december 31 and these rates went away and everybody's taxes increased, honestly, some more than others, we could, as a congress, go back and try to do pieces of that to try to bring some of those rates down for some people. i think that is what my republican colleagues are really the most afraid of. once you lose th
in california and a tax rate that will be 53%. killing entrepreneurs and business. what flight attendants really think about the passengers. oh, like we don't know, you treat us all like dirt on your shoe. connell: the cove petallides is back. she is talking about aig. nicole: let's talk about aig. it will be less than a sale than they had hoped. the aircraft leasing business. they are selling it to a consortium of chinese companies for $4.8 billion. the stock is down about 1.5%. aig is up the dow ones industrials have an up arrow. some of the tech stocks are really leading the way. karl icahn may be getting involved. we certainly have a lot of winners here on the dow jones industrials. take a look at mcdonald's. up 1.4%. they have been doing so well with the preface sandwiches here in the united states. connell: thank you. connell: let's go to rich@. rich: more than a billion dollars in criminal fines. the fines include more than a half billion dollars for auto parts companies and executives. those and several other smaller fines totaled more than $1.1 billion. the former director says the ong
'll be glad youid. cannonbox! [splash!] ♪ gerri: when it comes to waste, fraud, and abuse california takes the cake with its outrageous, salaries. according to one report, a california highway patrol chief retired lst year as the best paid officer ever raking in nearly $4,804,000 in salary, pension, and other benefits. he should be running a public company. the report finds union benefits allow many troopers to double their annual earnings in retire as young as 50. head. welcome back to the how. great to have you here. injure you being on the show. this story really makes me mad. let me brak down the salary. unbelievable. a lump-sum payment, accrued leave and vacation. a hundred and $78,000. nearly 100 -- how does anybody think this could possibly be making sense for a state that is going into the red, bankruptcy? >> this is exaclywhy. this is the way the state governmentuns things. they knew they were playing with someone else's money, and not just the taxpayers. when you're giving away huge pensions, you' giving away the probably are not even all the nafta vote yet. it has to do with the
of california is getting ready to fix some policyholders with a rate increase. lots more still to come on fox business. ♪ connell: breaking news out of washington. here is the speaker of the house, john boehner. >> to avert the fiscal cliff with a bipartisan agreement. that is truly solid and begins to solve our spending problem. the president still has not made an offer that meets those two standards. republicans have. the president promising american people a balanced approach, his proposals have been anything but. instead of beginning to solve our debt problem, he wants new stimulus spending and the ability to raise the debt limit whenever he wants without any cuts or reforms. that is clear that the president is not serious about cutting spending. the spending is the problem. how big a problem? i look at this report put together by paul ryan and the budget committee. here, if the president got everything he wanted, $1.4 trillion in taxes, this is what that would represent. if you look at the spending problem, you see it does nothing. nothing to solve the spending power of our country has
on president obama's new offer and john boehner's new backup plan. trrcy: one california industry that can abide rising taxes. we will tell you how vineyards and hundreds of thousands of employees are coping. ashley: solid gains for stocks in 2012. one big money strategist is going defensive for the new year. ing's bug could they will be here. tracy: the dow is up 110 points time for stocks as we do every 15 minutes. nicole petallides on the floor of the stock exchange. good day so far. nicole: if you are a bowl you are happy, and things up 110 points and up nearly 1% on the dow jones industrials, the s&p 500 up 1% as well ended ticketing nasdaq up 1-1/4% and we are trending to the upside and there is a belief that washington will in some way, shape or form solve the issues pertaining to the fiscal cliff and financials have been taking off and that has helped things along and shown seller strength as well and bank of america is the best performer of the financial industry on the s&p 500. bank of america hit a 52 week high trading as high as $11.28, is up $0.19 but you see 1.5% and yesterda
: the government's calling, and it's your money on the line, literally. california paying phone bills for land lines of a lot of low income people. now it's ready to give out cell phones to homeless people and folks already gets welfare and food stamps. california just approving a federal plan that could hook up more than 4 million people. charles payne, not too enthusiastic about this. charles, you and i talked in the break that the logic of this is it leads them to get a job or contact loved ones; rigt? >> right. that's the supposed rationale. we heard president obama talk about this for some of the justifications of laying down computer lines in rural areas because in a modern society, the only way you get a job these days is to have access to the internet, and, in this case, they are saying, you know, you have a telephone, relatives can call you, but the honest truth of it is, you know, because i don't think it's new, but i believe some form of a computer will be next. that's the string l logic. listen, it's unfair to the people they can't go online to a job site and post their resumÉ. of
with this fiscal cliff some people in california are about to get sucker-punched by higher health care costs too. blue shield of california says they will be raising premiums by as much as 20% as a result of the increased costs associated with, obamacare. but here's the kicker. if that is not already. blue shield of california has $3.9 billion of cash already on hand. that is nearly three times more as they're required to v should they even be allowed to jack up their premiums this much? and will other insurers soon follow suit? to follow this we have the former president and ceo of intergirs health and author of the book, political malpractice. thanks for joining us tonight. >> thank you, sandra. sandra: my question, blue shield wants to raise rates by average of 12%. in some cases they will be raised 20%. could you call this the unintended condition sequences of obamacare? >> well it was certainly predictable. when you begin to add things which are favorable to consumers but perhaps very expensive to insurance companies you could expected the insurance companies to cover their bets. preexistin
growing regions in california which napa is only one. average price of a ton of wine grapes in california was $632. but for napa $3300. >> while the napa grapes are valuable analysts note other reits have tried and failed to break into the wine business. the industry is fraught with risks running from harsh weather to production problems to pricing pressure from less expensive domestic or imported rivals. how can you succeed where other reits tried and failed? >> i think first having right assets. 90% of the wine comes from california but only 4% comes from the napa valley. second is the winery we're working with, sterling vineyards, 40 years of success. finally diageo as parent which is one of the strongest companies out there in the world we have steady cash flows from the wine business. >> that revenue stream flows straight through to investors. look at this chart. stockholders reinvested realty income monthly dividends drinking in magnum sized return over past decade doubling up the s&p 500 during that time. keep in mind long-term leasing deals but economic downturn may cause problems
are now estimated to be in the range of $2.5 trillion to almost $4 trillion. leading is california with more than $370 billion in unfunded pension liabilities, only 47% are currently funded. a pension debt per household in california of almost $30,000. illinois close behind, $167 billion in unfunded liabilities, 28% funded, and the state pension debt per household amounting to over $34,000. in municipal bonds illinois sold over $5 billion in bonds this year making it the third biggest debt issuer in the first three quarters this year. california and new york, numbers one and two with. the issue of unfunded pension liabilities with the passage of right-to-work laws is a subject that i'm going to be taking up with our next guest. -@mallory factor, author of can the bestseller, "shadow boxes: government nioos control america and rob taxpayers blind." we are delighted to have you with us. let's turn first, if i may, to the president telling autoworkers that right-to work-laws don't have anything to do with economics, they have everything to do with politics. your reaction? >> that's a
council. new governmt data suggests that a massive exodus from high tax state of california. california lost 100,000 more residents than it gained last year, more going to more business-friendly. business-friendly, states like texas. and california public employees have highest salaries in the 12 most populous state, earning on average $60,000 a year. >> major victory for gun rights advocates, a court struck down a ba on carryg weapons in the state of illinois, they rule that ban is unconstitutional. >> former nfl commissioner paul tag leah buhas overturned the saints suspension. he found three of the four engaged in conduct but said that the coaches and front office are to blame. for what he called the cash for hits program. >> up next, president yet rallying union troops again right to work legislation that is tonight, law, some michigan students today suffering the consequences, the a-team coming up. joining us here next, stay with us. you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier th
keep flying in and dropping the money, i am from the state of california, the state of california vottd to make -- it is the highest tacked taxed place on the planet, meanwhile, jobs and people are leaving california. we have to cut, people are not ready for it yet. >> what is ever ready for a big tax hike? we'll get a big tax hike on january 1st as i just reported. here is $2 70 billion in new taxes, they will hit middle class, working men and women. this is a game in which the president has succeeded in diverting national media from real issue. which is he, said he would not raise taxes on middle class, he will shove them down their throat on january 1st. i mean -- and the republicans are not talking about it. congressman, why not? in we're trying to. that is why i'm on your show. also. lou: fire away. >> it is important, i want to split up the issues. so what happens on january 1st, people will feel it will be with payroll tax, and amt, alternative minimum tax, cut to medicare, and cuts to defense. that is for real, that happens. that is immediate. the rise in rates due to obamacare,
, who he's attacking and why. on "varney & company" we saw this coming from a mile away. california raises taxes, but instead of helping the economy, it's hurting it. we'll bring you the story new at 10. the share price of apple is down this monday morning, how much and why nicole? >> down again for apple. dragging on technology. dragging on the nasdaq composite. today, we're talking about the price target from $800 thee citing a few factors, number one, asian suppliers that were giving better bargainn to apple and not doing that and it beats margin pressure and launching, this is news to me, i hadn't seen this, new ipads and iphones next year, that will cut into the margins further. stuart: you know, i was watching a lot of tv yesterday, i was watching some football yesterday, and throughout the day, there were ads for the samsung galaxy scattered across everywhere. the main competitor to the iphone 5, i think it is, and they were advertising like crazy yesterday. >> and i heard other figure, the older gang is starting to get more into apple and younger folks moving towards samsun
of california pushing to legalize recreational use of pot. cheryl: as we go to break with it today's s&p winners and you have a nike, big lots, we will be right back. cheryl: 30 past the hour and stocks every 15 minutes with nicole petallides. volume of the of the surprise today, billion shares traded by noon. nicole: what we see in volume, you have a rebalancing at the end of the day of the s&p so some of those types of things that are really just right here on wall street don't bother the investors at home. that is why you see heavy volume and there is heavy volume but what we are seeing is a trend and the trend, market today is worried about washington. as you are seeing all the major averages are lower,-1/3%, a ticketing nasdaq 1-1/2% people flocking to the save haven of u.s. dollar and save haven of gold. gold is up $10 today. let's look at walgreen's which is down 4% at the moment so walgreen's continues to struggle. the express scripts, that part of it, quarterly numbers have been dropping, same-store sales of not been too stellar. stock is down $1.56, up $35.99. dennis: thank you. fiscal
this controversial video we showed it to you yesterday from the california teachers union. it's a cartoon about the tax the rich debate and shows a rich person urinating on poor people, unbelievable. ed asner did the voice for it and he doesn't seem remorseful. watch this. >> remember the video? >> i don't remember a thing i said on t or a word i said on it. i agreed to do it for california teachers. i approve this message. >> okay. i think the most controversial part the people talking about, there's a part testiof it, talk things trickling down and rich people peeing on poor people. >> how disgusting, it should be the reverse, do you have any money? >> yeah. >> can i piss on you? >> oh, dear. that was the producer, sean hannity show, catching up with mr. asner last night. and asner is performing in a show on broadway here in new york city. and we're following the apple story throughout today's program and right at the opening bell, a big name that you know and probbbly own, that's apple. what's it doing wrong? where will it open? pre-market, by the way, was down $9. below 530. buying opportu
% of the properties in california. we know california's financial situation is dire at this moment. i follow it closely. any erosion there or worrying trends? >> not so far. it's hard to build in california. if there's an existing shopping center, it's going okay, like in los angeles -- >> leading me to the next question. a lot of the guys are sprucing up existing malls. there's not as much out right building, or what are you doing? what's the choice here? >> the economics are not there to justify new buildings. rents have not recovered to the levels they were years ago so in terms of buying land, getting it titled, zoned, and then building just doesn't make economic sense. it's easier to renovate and expand what you already own. >> we're showing what retailers are in most properties. walmart, sears, petco, best buy, and then dollar tree, t.j. maxx, ross, i don't know, is one area doing benter than another right now >> >> i think the analogy of a barbell works. the low eed discounts doing well, and the high end. it's the people in the middle struggling for the right business model. >> you ha
. we kept grabbing people. representative, a democrat from california. thank you so much for joining us . we have less than nine hours to go. tell me, what do you think will happen? >> let's be hopeful. let's be hopeful that we did a good, balanced deal. the ceos of looking for a balanced deals. i think there is one to be had. we have to pick a number where we have adequate revenues, somewhere above 250,000. okay. as a number. then on the cut side, keep in mind that in the budget control act of this year we have already well over a trillion, nearly a trillion 3-$400 billion of cuts already to take place. this sequestration is in addition to that. there are serious cuts coming down. they have to be done wisely, and that is why sequestration is a problem because it is not a wise way to make cuts. liz: i know you well because i'm from california. of watch your career closely. you and i both went to berkeley. you also went to harvard business school. you understand business. we cannot outsize the government to what those tax revenues are that comment. must we not at some point make everybod
is good. >> okay, but john, what happens to the states. we are finding out that california is signing up for powerball because of the revenues that they get. is it bad for states. >> it is really bad for states. wayne has much chance of winning the lottery as geth throh a comment without johnathon interrupting. >> zero. >> and the problem you have with this. this could be a biion dollar jack mots and huge and going to kill the state lottos and in the stouthe states. they were sold as a way of funding education . that didn't happen. they are dependent on the general fund. cash strapped states that depend on the lotto, you will cripple the funding for the states is it a bad idea. it robs peter to pay paul. >> johnathon, you wouldn't be cutting wayne off. >> i am keeping quiet. wayne has to check his calculator. 580 million jackpot would pate zero.zero 3 percent of the national debt. we don't need a new plan to pay off theebt. we need a new philosophy and not exasbrate the debt. in a fully free society a lottery is a great way to fund the because it is voluntary. they would gladly to pay it
crowd at glendale galleria in california. i should say the galleria. i'm from the valley. best i can do. thank you, thank you, i appreciate that. how packed is the mall? a lot of people there doing their last minute shopping? >> i got to tell you, either a lot of people pushed it to the wire this year or, they're just here for the great sales. either way retailers are counting on procrastinators to make up for a weaker than expected holiday shop season. here at the galleria, i'm told they're seeing record number of shoppers. there is no lack of shoppers here today on christmas eve. plenty of people hitting the malls to pick up last minute gifts, or, just things for themselves because the discounts are so great, they can't stay away. crowds over the weekend have been hitting the malls all across california and the west coast. that is because stores are staying open later. they're extending their hours and they're slashing prices t has been a gloomy holiday shopping season you know. superstorm sandy which disrupted things along the east coast. we had the school shooting earlier this month
california and other chain get similar top results. >> this is what i say. give me the worst schools black common mexican, polka dots give us the worst anywhere in america we will take an outperform the other schools in five years. >> creating a the model. >> these are hard workers. >> these kids now has some of the highest scorers if you can do this on the same amount? >> we get less than every other school. >> the kids in the american indian public charter schools our scoring so far above the average for this state that there is not even know word for it. john: they use different scores they pay kids to tutor other. >> we hire our students and we pay them. they are excited because they will make money. >> although they said that is politically incorrect you will study scions? the mexican and scions? good for years. >> he has been criticized for imposing strict rules to make you got in trouble? >> they want us to succeed. >> this student may dead student do pushups. >> you have to try hard. >> i hate saturday school. >> we do not have as much cellmark but here we have six subjects and th
. >> earlier this week about the california -- real estate seem to be percolating, things were coming together. is that not so? >> it's not so. we represent around 20,000 members of small business here. 350,000 nationwide. across the nation, but the best content especially here in california. no hope or certainty. that optimism continues to plummet. so we are finding the mom-and-pop stores -- especially during the holiday season -- with a lk of will. it's a very cruel way for the legislature and elected officials who continue to spend and not spent responsibly. i don't think californians are against government order paying taxes. they are just cynical the government is not being honest or responsible. we just hope and pray that they are going to do the right thing. neil: things have to be really bad when you would leave a beautiful state ke that and go -o nevada. 250 degrees in the summer -- things are so bad that you believe that, leave your beautiful state to go essentially insinuate. >> thank you for having me. neil: the focus on income taxes and what's going to happen, we've been talking a
it is today. the brandt was not quite as well known. california had a very growing population. the opportunities for the business was really back in the west coast during those years. they collected to pull back and focus on the west and, at this point, we now see the land scape a little differently and we are very excited and open to several stores in texas this year, as well as oklahoma. they are doing terrific. liz: these are the lucky states florida, georgia, pennsylvania and maryland. how did you choose those four states? >> we actually started in texas this year. two in dallas and two in houston and one in san antonio. liz: i am talking east coast. i am a california girl. it is unbelievable how everyone there knows their favorite ones. i know everyone talks about how the bordeaux is the favorite. that is not mine. my favorite is the milk chocolate covered caramel. i would leave 50,000 of them if they were put in front of me. the unit hurdle is, of course, warren buffett's favorite. >> the product just felt like hot cakes in those locations. they will do very well with st
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